2420 Palo Duro Blvd · North Fort Myers, FL 33917

$327,500

3 bd · 2.0 ba · 1,644 sqft · SingleFamily public records · 93 Days on market

Built 1999 0.27 ac lot Est $339k · at est. $242/mo HOA · 7% of rent ↓ 3% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.2/30.0
• ARV discount +9.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.7/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This professionally decorated home in HERONS GLEN COUNTRY CLUB features a well-designed split bedroom floor plan. The main living areas showcase traditional tile laid on the diagonal, and the bedrooms, den, and extended house-width back lanai feature attractive PORCELAIN PLANK TILE, creating a cohesive and contemporary look throughout. The generous master suite includes a spacious ensuite bathroom and a walk-in closet with BUILT-IN CLOSET ORGANIZATION system, and opens to the expansive back lanai through a three panel sliding door, while the guest bedroom also has lanai access through its own sliding doors. The kitchen is equipped with white cabinets, pantry, Corian countertops, and nearly

Key facts

• Large backyard
• Porcelain plank tile
• Paver driveway

Tags

• SPLIT BEDROOM FLOOR PLAN
• PORCELAIN PLANK TILE
• BUILT-IN CLOSET ORGANIZATION
• EXTENDED SCREENED LANAI
• LARGE BACKYARD
• PAVER DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $328k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $328k).
• Recommended offer: $298k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% in North Fort Myers — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,489/mo this rent would consume 76% of the median local household income ($55k/yr) (locally 775% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($298k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $298,025 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $338,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20686 Dennisport Ln	0.35mi	3/2.0	1,617 (-2%)	2mo	$460,000	$284	79
20736 Mystic Way	0.33mi	3/2.0	1,700 (+3%)	3mo	$350,000	$206	76
2411 Palo Duro Blvd	0.03mi	2/2.0 (-1)	1,814 (+10%)	0mo	$488,000	$269	76
20056 Sweetbay Dr	0.57mi	3/2.0	1,672 (+2%)	4mo	$278,500	$167	67
20605 Long Pond Rd	0.34mi	2/2.0 (-1)	1,805 (+10%)	6mo	$410,000	$227	58
1950 Corona Del Sire Dr	0.57mi	2/2.0 (-1)	1,602 (-3%)	11mo	$250,000	$156	55
20708 Tisbury Ln	0.45mi	2/2.0 (-1)	1,500 (-9%)	6mo	$272,000	$181	55
20526 Plumwood Loop	0.37mi	2/2.0 (-1)	1,497 (-9%)	18mo	$285,000	$190	48
20502 Plumwood Loop	0.40mi	2/2.0 (-1)	1,497 (-9%)	18mo	$330,000	$220	47
2030 Rio Nuevo Dr	0.48mi	2/2.0 (-1)	1,408 (-14%)	3mo	$295,000	$210	46
1941 Palo Duro Blvd	0.57mi	3/2.0	1,448 (-12%)	17mo	$281,000	$194	40
2136 Pigeon Plum Way	0.71mi	4/2.0 (+1)	1,828 (+11%)	14mo	$346,900	$190	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.57×
• Total profit: $-39,498
• Equity at exit: $48,831

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-19,930
• Equity at exit: $28,316

Cash invested: $91,700 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,489 high
• Mortgage (P&I): −$1,717
• Tax from tax record: −$305 /mo · $3,662/yr
• Insurance: −$136
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$242
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $230

Break-even live

Break-even rent $3,198

Max offer price $327,500

Occupancy floor 88%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $81,875
• Closing costs: $9,825
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	15d	1	0.10mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	0.10mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	14d	1	0.37mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	15d	1	0.39mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	23d	1	0.39mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	23d	1	0.42mi
20728 Tisbury Ln North Fort Myers, FL	3.0	2.5	2133	$5,000	$2.34	14d	1	0.49mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	23d	1	0.54mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	23d	1	0.62mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	19d	1	0.65mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	23d	1	0.74mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	3d	1	0.78mi
20333 Camino Torcido Loop North Fort Myers, FL	4.0	2.0	1828	$3,800	$2.08	23d	1	0.88mi
20461 Camino Torcido Loop North Fort Myers, FL	4.0	2.0	1828	$2,250	$1.23	23d	1	1.02mi
20719 Kaidon Ln North Fort Myers, FL	2.0	2.0	1538	$4,000	$2.60	23d	1	1.19mi
20961 Skyler Dr North Fort Myers, FL	3.0	3.0	2133	$6,000	$2.81	23d	1	1.23mi
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	23d	1	1.28mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	23d	1	1.30mi

HOA detail

• Monthly dues: $242 · $2,904/yr

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-03-15
   price $327,500
3. 2026-01-10
   listed $337,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,662 · $305/mo
• Projected year-2 tax: $3,662 · $305/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,868
• − Mortgage interest: −$18,345
• − Property taxes: −$3,662
• − Insurance: −$3,140
• − Repairs & maintenance: −$3,349
• − Management: −$3,349
• − HOA: −$2,904
• − Depreciation: −$9,527
• Taxable loss: −$2,409
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $3,339/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-3.0% since first listed

3 events — show timeline

• 2026-04-13 Pending — FORTMLS
• 2026-03-15 Price Changed $327,500 FORTMLS
• 2026-01-10 Listed $337,500 FORTMLS

Property tax history

+1.2%/yr

Latest (2025): $3,662 · +3.0% YoY. Source: county tax records.